Posts
ToysRUs today announced plans to raise $800M in an IPO, part of the proceeds to reduce debt. The company is the largest U.S. toy store chain. The report is from Bloomberg.
Who will get richer? Besides the debt holders, the usual money making machines will pocket lots and lots of millions: Goldman Sachs Group Inc., JPMorgan Chase & Co., Bank of America Corp., Credit Suisse Group AG, Deutsche Bank AG, Citigroup Inc. and Wells Fargo & Co., who are managing the sale.
"Toys “R” Us is forging ahead with its sale even after the European debt crisis pushed the Standard & Poor’s 500 Index down 7.1 percent this month and prompted at least 20 companies around the world to postpone or withdraw IPOs. Initial offerings from U.S. companies backed by private-equity firms are also losing money for investors for the first time in a least a decade.
Bain of Boston, KKR and Vornado Realty Trust in New York bought Toys “R” Us for $7.5 billion, including assumed debt".
Who will get richer? Besides the debt holders, the usual money making machines will pocket lots and lots of millions: Goldman Sachs Group Inc., JPMorgan Chase & Co., Bank of America Corp., Credit Suisse Group AG, Deutsche Bank AG, Citigroup Inc. and Wells Fargo & Co., who are managing the sale.
"Toys “R” Us is forging ahead with its sale even after the European debt crisis pushed the Standard & Poor’s 500 Index down 7.1 percent this month and prompted at least 20 companies around the world to postpone or withdraw IPOs. Initial offerings from U.S. companies backed by private-equity firms are also losing money for investors for the first time in a least a decade.
Bain of Boston, KKR and Vornado Realty Trust in New York bought Toys “R” Us for $7.5 billion, including assumed debt".
No comments:
Post a Comment